Company/Estimate
CHS/.38
CPRT/.21
OVTI/.24
JTX/.19
SFD/.52
Splits
TASR 2-for-1
Economic Data
Preliminary 3Q GDP estimated to rise 3.7% versus a 3.3% increase in 2Q.
Preliminary 3Q Personal Consumption estimated to rise 4.7% versus a 1.6% increase in 2Q.
Preliminary 3Q GDP Price Deflator estimated to increase 1.3% versus a 3.2% rise in 2Q.
Consumer Confidence for November estimated to rise to 96.0 versus a reading of 92.8 in October.
Chicago Purchasing Manager for November estimated at 62.0 versus 68.5 in October.
Recommendations
Goldman Sachs reiterated Outperform on GOOG and EBAY. Goldman reiterated Underperform on BSC.
Late-Night News
Asian indices are higher, led by Korean shares. Global profit forecasts have been upgraded more in 2004 than at any time in the past 15 years, the London-based Times said, citing research by Citigroup. The world is facing a "cascade of proliferation" of nuclear weapons unless the existing system to prevent their spread is improved, the Financial Times said, citing a UN report. Bank of New York is negotiating with federal prosecutors to ward off a possible criminal indictment on charges it failed to report suspicious activity at one of its branches, the Wall Street Journal reported. Ukraine's standoff over who won the Nov. 21 presidential election mustn't provoke a breakup of the country, U.S. Secretary of State Powell told Leonid Kuchma, the outgoing Ukrainian president. The Ukrainian Supreme Court may give its ruling today on charges of fraud in the Nov. 21 presidential election, as the outgoing president said he is prepared to hold fresh elections, Bloomberg said.
Late-Night Trading
Asian Indices are unch. to +1.0% on average.
S&P 500 indicated unch.
NASDAQ 100 indicated +.13%
BOTTOM LINE: I expect U.S. equities to open higher on better-than-expected economic reports, lower energy prices, a stronger dollar, short-covering and more optimism. The Portfolio is 100% net long heading into tomorrow.
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